AeroSvit (Kyiv) is intending to appeal against a ruling of the Kyiv Economic Court of Appeals at the Higher Economic Court of Ukraine.
According to a company press release, the decision of the Kyiv Economic Court of Appeals of February 5, 2013 on the termination of the procedure of the airline’s bankruptcy violates the applicable law, as all procedures that permitted the implementation of all of the necessary measures to prevent the stoppage of the air carrier’s operations and its liquidation at court, have been halted.
“The judges of the Kyiv Economic Court of Appeals, when deciding on the claim of the Boryspil United State Tax Inspectorate of Kyiv region, went beyond their powers, ignored some circumstances of the case, and grossly violated the substantive and procedural law,” reads the press release.
The airline said that in December 2012 the air carrier was forced to turn to the court to initiate bankruptcy proceedings due to a failure to simultaneously satisfy the requirements of all creditors in full.
The Economic Court of Kyiv region on December 29 introduced a procedure for managing the property of AeroSvit, which foresees it doing business without restrictions. At the same time, in accordance with the law on restoring the debtor’s solvency or declaring it bankrupt, the court imposed a moratorium on the satisfaction of creditors’ claims.
